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The Canadian dollar was little changed on Friday after recovering from a three-week low, as October jobs data added 31,200 positions and the jobless rate fell to 6.7%. Markets priced in earlier Bank of Canada rate hikes, while U.S. crude settled 3.1% higher at $81.27 after OPEC+ kept its planned output increase.
Stronger Canadian jobs support earlier BoC tightening, while OPEC+ sticking to modest supply additions keeps crude firm. Higher oil supports the loonie and energy-linked commodity costs.
brecorder.comReutersNov 5, 2021After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
